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Colombia's central bank raised its benchmark rate 100 basis points to 6% on Friday, the highest in nearly five years, with four board members backing that move and the rest favoring 150 basis points. Inflation was 8.53% in the 12 months to March, and the bank raised its growth forecast to 5%.
The bank cited higher fertilizer costs from the Ukraine war as one inflation driver.
Higher domestic rates and inflation in Colombia raise the cost of credit for livestock and feed operators, and higher fertilizer costs point to pressure on local grain and feed input prices.
financialpost.comReutersApr 29, 2022Not enough comparable past events yet for a historical read.
After 92 past bullish macro events, Urea moved a median +0.0% over 5 sessions (50% higher; middle half -2.0% to +3.6%), and +4.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
